If you are seeking an immigrant visa, an investment green-card, or need assistance with the process of becoming a U.S. citizen, Feinstein & Partners can assist you in navigating through complex immigration laws. We specialize in the following areas of immigration law:
- EB-1: Extraordinary Ability Alien, Outstanding Professor/Researcher, and International Manager/Executive
- EB-2: Exceptional Ability Alien and Advance Degree Professional, including National Interest Waivers (NIW)
- EB-3: Professional, Skilled and Unskilled Worker
- EB-4: Religious Worker
- EB-5: Investor Visas
- B-1/B-2 Visitor
- E-1/E-2: Treaty Trader/Investor
- H-1B: Specialty Occupation
- L-1: Intracompany Transferee
- O-1: Extraordinary Ability Alien
EB-5 – Immigrant Investor Program
A major aspect of Feinstein & Partners’ practice includes representation of foreign investors in connection with the EB-5 investor visa program. EB-5 is an investment based program which allows foreign investors to obtain U.S. permanent residency – “Green-Card”.
To qualify for the EB-5 investor visa program, an investor must satisfy two major requirements: first, investing $1,000,000 in the establishment of his/her own business; and second, creating 10 jobs. The investment amount may be lowered from $1,000,000 to $500,000 if an investor chooses to invest through an USCIS approved Regional Center located in a targeted employment area. Among USCIS’s approved targeted employment areas are New York City (Manhattan), Florida (Miami), Georgia (Atlanta), and other regions. We have represented clients in connection with EB-5 investor projects in the major metropolitan targeted employment areas.
We have substantial experience in guiding foreign investors through the EB-5 visa process in connection with Regional Center investments as well as complex EB-5 cases for investors starting their own business in the U.S.
The scope of our EB-5 investor program services includes:
- Conducting full due-diligence of the selected regional center to ensure that it was pre-approved by USCIS; checking historical approval and denial rates of 1-526 petitions; checking if the regional center developer contributed its own funds to the project; and reviewing corporate documentation, project business plan and financials, etc.
- Preparing and compiling all necessary documentation (including Form I-526) to ensure a seamless application process and timely issuance of an EB-5 visa
- Guiding clients through the process of proving lawful source and path of investment funds
- Adjusting client’s status to conditional residence status once client’s visa application is approved
- Filing for adjustment of status (Form I-829), application to remove conditions on the client’s residence, at the appropriate time
Pre-Immigration Tax Planning
Feinstein & Partners provides pre-immigration tax planning to foreign individuals immigrating to the U.S. Once an individual becomes a U.S. resident alien for the purposes of U.S. income taxation, he or she will be exposed to U.S. income taxes on worldwide income and estate and gifts taxes on worldwide assets. Through years of representing foreign individuals in connection with U.S. business, tax planning and immigration matters, Feinstein & Partners developed pre-immigration tax planning solutions that allow our clients to significantly reduce exposure to U.S. federal income, gift and estate taxes. Depending on each client’s unique situation and country of origin, we might advise different pre-immigration tax planning solutions, including:
- Accelerating income earned by an immigrating client prior to becoming a U.S. tax resident
- Accelerating recognition on account receivables and other income
- Accelerating gain in appreciated assets belonging to an immigrating nonresident alien prior to becoming a U.S. tax resident; an immigrating alien should consider accelerating gains on his or her real estate assets, artwork, corporate stocks and options, and other assets
- Deferring losses until after a client becomes a U.S. tax resident; these losses can be taken after an individual becomes a U.S. resident, thereby reducing his or her taxable income tax basis in the U.S.
- Exploring strategies to benefit from the step-up in basis of assets to their fair market value so that only appreciation will be taxable once a foreigner becomes a U.S. tax resident
For example, Mr. X purchased a property many years ago and paid $200,000 for it. On the date he plans to become a U.S. tax resident, the property is worth $1,000,000. If Mr. X does not step up the cost basis of the property before relocating to the U.S. and sell the property thereafter, his gain on the sale will be $800,000. This gain will be subject to the highest U.S. income tax rate (almost 40%). With proper planning, Mr. X could have paid $0 in U.S. income taxes on the gain realized from the sale of the property.